Tax filing help- client already submitted taxes but can’t meet the deadline to process excess contribution or recharacterization

I have a client that already submitted his tax return and just let me know that he was not eligible for the Roth contributions that were done in 2018. In the tax return he filed he claimed it as excess contributions to the Roth IRA but only put in for his Roth and not his wife. So at a minimum he would need to file an amended return. The deadline to do an excess contribution or recharacterization is too soon in order to get this corrected for him by April 15th. Is the correct way for the client to file for an extension, even though he already filed his taxes, in order to allow time for either excess contribution or recharacterization? Then re-file his return after the excess contribution or recharacterization is complete? If so would he just re-file a regular return or an amended return. Need help on understanding what the correct process is to get this corrected and allow time for either an excess contribution or recharacterization to be processed.



Since the return has been filed on time, client’s deadline for recharacterization or removal of the contribution is 10/15/2019. If he removes the contribution(s) by then with earnings, the earnings will be taxable and subject to penalty unless over 59.5 in 2018, the year the contribution was made. He would have to amend his return to report the earnings (if any). But if the contributions are recharacterized as TIRA non deductible contributions, he could send in the 2018 Form 8606 forms reporting the ND contributions by themselves without amending the return.



Thank you so much!  This is very helpful!



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